Please watch the scale....1/2 point scale all day today, even on 10 min chart.....when the morining run of 9 points occurred, double that # to 18 points on 1 point scale...that means the run was 18 pts if normal volume/activity was occurring. When that happens don't enter trade in that direction probably for rest of day or at least use extreme caution..
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Awash's Journal
- Thread starter Awash
- Start date
Quote from porgie:
Please watch the scale....1/2 point scale all day today, even on 10 min chart.....when the morning run of 9 points occurred, double that # to 18 points on 1 point scale...that means the run was 18 pts if normal volume/activity was occurring. When that happens don't enter trade in that direction probably for rest of day or at least use extreme caution..
Hi Porgie,
I don't follow what you are saying regarding the scale and consequently how the last sentence relates to it?
I am intrigued, but unclear.
Also, what would be your entries and trade management on a 10 min chart?
thanks,
Bruce Hawkins
The scale has nothing to do with last comment. Just following the idea that since most Emini SP runs don't exceed 15/20 pts...don't look for same direction trades after 15/20 pts seen...end to end of run.
The 10 min chart against the 5/3/? will show the smoothness of 10 compared to shorter time frame charts, and fake moves of shorter charts. Or, at least short point moves that take off like gangbusters and trap u quickly.
Many thousand hours have shown this very clearly. works for me.
The 10 min chart against the 5/3/? will show the smoothness of 10 compared to shorter time frame charts, and fake moves of shorter charts. Or, at least short point moves that take off like gangbusters and trap u quickly.
Many thousand hours have shown this very clearly. works for me.
Create a system that gets in @ beginning of run...not middle or end..A few thousand hours and you can find it...maybe earlier if u r lucky..I am a slow learner...I believe I have found it, but I might be fooling only Porgie....This is a brutal, unforgiving business...Easy won't happen...don't expect it overnight.
Don't risk ur money until u have total confidence in system...That might be 1 single trade setup...Proven over and over..Discipline doesn't come first...Confidence does, the discipline comes in play during the trade. Stop losses set properly are a blessing from God....If run is good, stop loss setting points are the same every time...find the spot on hundreds of charts that u should save to prove your theories. Yes, dead charts will prove a lot...especially on longer term charts
Don't risk ur money until u have total confidence in system...That might be 1 single trade setup...Proven over and over..Discipline doesn't come first...Confidence does, the discipline comes in play during the trade. Stop losses set properly are a blessing from God....If run is good, stop loss setting points are the same every time...find the spot on hundreds of charts that u should save to prove your theories. Yes, dead charts will prove a lot...especially on longer term charts
Hey guys,
Thanks for your input. As for now, Iâm going to work on the problems that I discussed above, in particular my entries!
I donât think my system is broke nor do I think larger time intervals will help me. The reason I say this is because I watch price very closely. Itâs my number one technical indicator. I want to know what price is doing every few seconds. Iâm able to gather a lot of valuable information from price action that I canât get from other indicators.
Although, larger time intervals reduce the noise and makes things smoother it also decreases market action and makes things unclear for me. You may disagree with me but thatâs precisely why each trader is different; use other indicators, trade different markets, et cetera. What may work for you may not work for me and vice versa.
Nevertheless, keep replying to my journal at your convenience. ALL FEEDBACK IS WELCOMED! Iâm just looking forward to strengthening my offensive game for now.
Thanks for your input. As for now, Iâm going to work on the problems that I discussed above, in particular my entries!
I donât think my system is broke nor do I think larger time intervals will help me. The reason I say this is because I watch price very closely. Itâs my number one technical indicator. I want to know what price is doing every few seconds. Iâm able to gather a lot of valuable information from price action that I canât get from other indicators.
Although, larger time intervals reduce the noise and makes things smoother it also decreases market action and makes things unclear for me. You may disagree with me but thatâs precisely why each trader is different; use other indicators, trade different markets, et cetera. What may work for you may not work for me and vice versa.
Nevertheless, keep replying to my journal at your convenience. ALL FEEDBACK IS WELCOMED! Iâm just looking forward to strengthening my offensive game for now.
Price action sounds good...draws u n 2 close. Back off. Longer charts, bigger picture. You r going 2 have 2 get out of the box and start all over..U R DOING WHAT EVERYBODY ELSE DOES....throw out your system and study 3,500 hours and then put your money on the line.....open acct w/$5000. trade 1 contract..DEMO TRADE UNTIL U HAVE CONFIDENCE...Emini S & P 500 only....use 3 to 4 pt stops. find the safe stop pts...they are 95% safe..almost never hit on A good run...5 plus pts runs. 100% system is possible...NO DISCIPLINE REQUIRED...ONLY CONFIDENCE AND PATIENCE.....DISCIPLINE IS OVERBLOWN....A BAD SYSTEM WON'T GET BETTER WITH DISCIPLINE...CONFIDENCE...COMES AFTER MANY HOURS OF SEEING A SETUP OCCUR AND WORK. OVER AND OVER...MACD, STOC, BB, ETC., ALL HAVE BEEN THERE FOR A LIFETIME, AND ONLY 3% TRADERS MAKE MONEY??????????THINK ABOUT IT.
Quote from porgie:
Price action sounds good...draws u n 2 close. Back off. Longer charts, bigger picture. You r going 2 have 2 get out of the box and start all over..U R DOING WHAT EVERYBODY ELSE DOES....throw out your system and study 3,500 hours and then put your money on the line.....open acct w/$5000. trade 1 contract..DEMO TRADE UNTIL U HAVE CONFIDENCE...Emini S & P 500 only....use 3 to 4 pt stops. find the safe stop pts...they are 95% safe..almost never hit on A good run...5 plus pts runs. 100% system is possible...NO DISCIPLINE REQUIRED...ONLY CONFIDENCE AND PATIENCE.....DISCIPLINE IS OVERBLOWN....A BAD SYSTEM WON'T GET BETTER WITH DISCIPLINE...CONFIDENCE...COMES AFTER MANY HOURS OF SEEING A SETUP OCCUR AND WORK. OVER AND OVER...MACD, STOC, BB, ETC., ALL HAVE BEEN THERE FOR A LIFETIME, AND ONLY 3% TRADERS MAKE MONEY??????????THINK ABOUT IT.
porgie,
No offense...but you don't seem like your doing ok.
Your using tons of caps...your posting similar like messages throughout the journals threads...
Your consistently telling traders (regardless if their profitable or not) to abandon what they are doing.
You even said you were going to leave this forum after realizing your not offering any useful info:
Quote from porgie:
You are 100 % correct..I will cease and desist. I'm just bored tonight. I don't have anything worthwhile to share as you can tell by my posts...Talk is cheap so I will shutup and leave this forum now. Thank You....Good Luck
Yet...you are back again...posting in a way that your trying to bring a whole new meaning to the phrase...
talk is cheap.
Geeesh...is the full moon out or what?
By the way...that ALL CAPS stuff you've been posting in other threads is an eyesore...
you should tone that down or learn how to use ET's vB codes to highlight certain words your trying to draw attention to...
Use the below link to see what I mean...
http://www.elitetrader.com/vb/misc.php?s=&action=bbcode
Here's the weird part...many of your posts are like the ones above...
then you post something like this...
Quote from porgie:
Isn't this a lonesome business? I truly hope you have a great future in this business...I have tried and failed, with minimal loss. I am ready to go realtime again with real dollars again...Last year was premature entry into market ...
...Emotion is not a factor simply because I have about 3500 hours of analyzing my 400 daily charts which eventually led to these 2 strategies...
Good for nerves...
Find what works often and tinker with it until it works more and more often...
Have a Wonderful Weekend
The above has no caps...your not telling other traders...even profitable ones...to abandon their system and adopt what your using...
something that hasn't been proven to work for you with real money just yet.
Personally, via the way your bouncing back-n-forth with the CAPS and normal like posts...
I would say your already way too emotional and starting to get nervous about trading with real money.
By the way...do you have a designated date when you plan to trade with real money???
NihabaAshi
Quote from porgie:
I have not seen on any forum a system that works bigtime, longterm...
As some more knowledgeable than I have already said, your edge, holy grail, what ever you want to call it, is YOU!
IMO the main "system" we need to focus on is ourselves. We need to on a continual basis, examine what are thoughts are before, during and after we place a trade.
What am I doing on a daily basis to improve my trading?
What area's do I need to improve?
Before any action or lack of action can take place, a thought preceded it.
What was the thought that got you into a trade that was not part of your trading plan?
What was the thought that kept you from entering a trade when your edge was present?
Do we truly want to be consistently successful traders? If so, how much are you willing to do? What are you going to let stop you? Is what you are doing in alignment with creating your goal?
These are some of the questions I have just started to ask my self on a daily basis.
This is an evolving endeavor, we must be open, creative, eager to learn new things, constantly evaluating ourselves. Just like our walk down the road of life.
regards,
Bruce Hawkins